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Stocks to watch: Maruti Suzuki, bank stocks, Jubilant Ingrevia, BPCL, BEML

Moody's Investors Service revised upwards its outlook on IndusInd Bank to 'stable' from 'negative' while affirming its rating

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SI Reporter New Delhi
3 min read Last Updated : Mar 23 2021 | 8:47 AM IST
The Nifty futures on Singapore Exchange reversed early gains and were trading marginally lower at 14,702, indicating a muted start for benchmark indices on Tuesday. 

Here are the top stocks to track in today's session:

Maruti Suzuki: The company said it will "substantially" increase the prices of its entire product portfolio from next month in order to offset the impact of high input costs. The auto major said the exercise would cover its entire product range in the country.

Bank stocks: Shares of bank companies will be in focus today as the Supreme Court will pronounce verdict on a batch of pleas by various trade associations, seeking extension of loan moratorium and other reliefs in view of the Covid-19 pandemic. 

Edelweiss Financial Services: Investment firm PAG has invested Rs 2,366 crore in Edelweiss Wealth Management to acquire controlling stake in the company.

BPCL: The board of privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday approved the merger of its gas subsidiary, BGRL with itself in a bid to streamline corporate structure.

IndusInd Bank: Moody's Investors Service revised upwards its outlook on IndusInd Bank to 'stable' from 'negative' while affirming its rating.

Varroc Engineering: The company board has approved the proposed fund raise by way of a qualified institutional placement of equity shares. The QIP issue opened on March 22.

Bharti Airtel: The company will acquire an additional 3.3 per cent stake in special purpose vehicle Avaada MHBuldhana that has been formed for owning and operating a captive power plant. 

LT Foods: LT Foods, which is into basmati and other speciality rice, said it has certified with the highest level of verification – L3, by UN-backed Sustainable Rice Platform (SRP) ecolabel. This will enable the company to use SRP verified logos on the packs of rice produced by verified 1,000+ farmers growing sustainable rice, LT Foods said in a statement.

KEC International: The company has secured new orders worth Rs 1,429 crore across its various businesses. With these orders the company's current year order inflows have exceeded Rs 11,000 crore.

Tata Communications: The government has exited its shareholding in the company after selling its entire 26 per cent stake. The government sold 16.12 per cent stake through an OFS, which fetched the government Rs 5,457 crore and the remaining 10 per cent was sold to a strategic partner at OFS discovered price for Rs 3,389 crore.

Vaibhav Global: The company board has approved sub-division of one equity share of face value of Rs 10 each into five equity shares of Rs 2 each, subject to shareholders' approval.

BEML: Multiple Expressions of Interest received for the privatisation of BEML. The transaction will now move to the second stage, DIPAM Secretary said in a tweet.

Tata Motors: Goldman Sachs sees 20 per cent downside in Tata Motors' shares as it believes its 70 per cent share price rise this year has overshot fundamentals. The brokerage has retained a sell call with a target price of Rs 241, revised up from Rs 175.

Jubilant Ingrevia: Ace investor Rakesh Jhunjhunwala said persons acting in his concert have purchased 3,04,009 equity shares in Jubilant Ingrevia on March 19, resulting in an increase in total shareholding in the company to 99,33,809 equity shares i.e. 6.23 per cent of total paid-up equity of Jubilant Ingrevia. 

Topics :stocks to watchBuzzing stocksMarketsMaruti SuzukiBPCLBEMLbank stocks

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